Transense Technologies signs global distribution deal for identification tag products

Transense Technologies PLC (AIM: TRT) said its subsidiary Translogik RFID Lrd has signed an exclusive global distribution agreement, excluding China, with Qingdao Mesnac Co Ltd for its range of RFID (Radio Frequency Identification) products, including its tyre RFID tag.

In a statement, the technology transfer company said tag has been developed to be embedded within the tyre during the manufacturing process, where it will last the lifetime of the tyre, or alternatively in a patch which attaches to the tyre wall, as an aftermarket solution.

Transense estimates the potential tyre RFID market to be in the region of 1.2 billion units per annum and claims it has the first commercially available, independent (non-OEM) RFID tyre tag available to Original Equipment Manufacturers, fleets and service providers.

The tag has undergone a rigorous and extensive testing process during the past 18 months, in both truck and car tyres, and has proven to be exceptionally robust, meeting all quality expectations.

CEO Graham Storey commented: “This agreement adds another complementary technology to our existing product portfolio, allowing us to meet the developing demands of our existing customers and the wider automotive asset management market.”

Transense believes there are compelling reasons for a tyre manufacturer or fleet owner to fit an RFID tag into their tyres; recent price increases mean that tyres now represent their second highest maintenance cost behind fuel, as a consequence managing tyre assets is enormously important in maintaining profitability. RFID allows for accurate, real-time management of tyre assets and full tyre tracking to prevent counterfeiting and tyre theft.

Mr Yang, general manager of Qingdao Mesnac, said:  “Our relationship with the Transense Group has developed rapidly over the past year. This agreement follows on closely from the Memorandum of Understanding signed last September, and we envisage a long and mutually beneficial partnership developing, with further product design and development under discussion.”

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